Singapore stock preview: Thai Beverage, ST Engineering, Yangzijiang

• Thai Beverage PCL share price rose over 3% on Monday (28 November 2022)
• Singapore Technologies Engineering Ltd share price fell following its latest results
• Yangzijiang Financial Holding Ltd shares fell 1.4% to kick start the week
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Thai Beverage (SGX: Y92)

The food and beverage manufacturer saw sales revenue for FY2022 increase by 13.2% year-on-year (YoY) to 272.359 billion baht (S$10.45 billion), as the easing of pandemic and travel restrictions drove growth in all business segments.

The group also delivered a 15.7% YoY increase in earnings before interest, taxes, depreciation, and amortisation (EBITDA) to 53.928 billion baht (S$2.076 billion). This came on the back of ‘satisfactory improvements’ in EBITDA from the beer, non-alcoholic beverage, food businesses and associated companies.

Net profit rose 26.2% YoY to finish at 34.505 billion baht (S$1.33 billion) this year, with net profit belonging to the company coming in at 30.1 billion baht (S$1.16 billion).

In light of the performance, the company declared a dividend amount of 0.45 baht (S$0.017) in FY2022, up from 0.35 baht (S$0.013) in FY2021.

Singapore Technologies (ST) Engineering (SGX: S63)

The engineering group recorded a 19% YoY revenue gain for the nine months ended 30 September 2022, on the back of higher contributions across all business segments.

Revenue for the third quarter (Q3) of 2022 came in at S$2.2 billion, versus S$1.8 billion during the same period a year ago.

The Urban Solutions & Satcom segment posted the biggest increase of 54% for the first nine months of FY2022, with the Commercial Aerospace and Defence & Public Security segments following next with a 25% and 6% increase, respectively.
ST Engineering declared an interim dividend of S$0.04 per share for Q3 2022.

Yangzijiang Financial (SGX: YF8)

Yangzijiang Financial Holding announced that its wholly-owned subsidiaries, Jiangsu New Yangzi Commerce & Trading Co., Ltd and GaoHong International Limited., have been awarded the liquidity pool scheme of up to 10 billion yuan (approximately S$1.9 billion) from the People’s Bank of China.

‘Under the liquidity pool scheme, the group will be able to deploy its capital in and out of China in a cost-efficient manner through intra-group transfers,’ the company said.

The initiative also allows the group to maximise cash management returns through forex and interest rate differential between Renminbi and other currencies, such as USD or SGD, as well as consolidate and centralise its cash management function.

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